On January 1, 2022, BayVanguard Bank, Edgemere, Maryland, completed its acquisition of North Arundel Savings Bank, Pasadena, Maryland. As part of the acquisition, BV Financial, Inc., the mid-tier holding company of BayVanguard Bank, issued 251,004 shares of its common stock to Bay-Vanguard, M.H.C., BayVanguard Bank’s mutual holding company parent.
Read More...On December 29, 2021, First Financial Credit Union, Skokie, Illinois completed a private placement of $2.0 million of its 4.25% fixed rate subordinated notes due January 1, 2032. The subordinated notes are intended to qualify as secondary capital under NCUA rules.
Read More...On December 17, 2020, the NCUA adopted a final rule expanding access to subordinated debt and modifying the NCUA’s existing secondary capital rules for low-income designated credit unions.
Read More...On December 10, 2021, CB Financial Services, Inc., Carmichaels, Pennsylvania, the holding company for Community Bank, completed a private placement of $15.0 million of its 3.875% Fixed-to-Floating Rate Subordinated Notes due 2031.
Read More...To our clients and friends:
The SEC has adopted new rules relating to the required use of a universal proxy card in a director election contest. The new rules go into effect with respect to any shareholder meeting held after August 31, 2022.
Our Alert regarding the new rules is available here.
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